EV charging: Energy Park and char.gy benefit from new funding

EV charging company char.gy, has secured an extra £35m in funding from the UK Government’s Charging Infrastructure Investment Fund (CIIF) which, on top of earlier investments, takes the total they will have received to £100m.

The new investment has been made by Zouk Capital, who manage the CIIF, and will allow char.gy to pursue their ambition of growing  its network of charge points from the current level of 3,000  to 100,000 by 2030, quite an ambition, given that the UK currently has around 60,000 public charge points in total.

John Lewis, char.gy CEO, said: ‘We are delighted that with Zouk’s continued support, we will continue to expand our on-street charging network, making EV ownership viable for more individuals reliant on public charging, supporting their transition to sustainable transport. Our mission is to ensure EV adoption is accessible to everyone, creating parity between those with off-street parking and those without.

‘The latest funding will help us accelerate our ambitious growth plans and will be directed towards the rollout of more charge points across the next five years. We are here to partner with local councils, providing the expertise and scale needed to drive the UK’s green agenda forward.’

Earlier this month Energy Park, a provider of EV charging solutions for apartment buildings, secured an initial £35m investment from the CIIF to accelerate its growth in the UK.

Energy Park aim to improve access to convenient EV charging at apartment buildings with communal parking areas, where access to charge points is often limited and where residents can often pay prices comparable to higher public charging rates.

With an estimated 100,000 apartment buildings in the UK, Energy Park want to address this need and make EV ownership an option for everyone, regardless of where they live. Energy Park intends to change this by giving residents access to a greater number of affordable charge points, while providing a reliable service and ongoing customer support.

Energy Park Founder, Gavin Malone, said: ‘We’re delighted to be partnering with Zouk Capital to drive the growth of EV infrastructure in the UK. The demand for affordable EV charge points at apartment buildings and residential destinations is increasing rapidly, and with Zouk’s funding we can grow quickly to become a leading provider of tailored EV charging solutions for more residential landlords.

‘With our fully managed and funded approach, we make the process as straightforward as possible. We remove any of the stress associated with an initial capital outlay or the ongoing management and maintenance of the charge points, while also creating a customer-centric proposition that will help landlords build long-term relationships with their residents.’